Fronckiewicz, Craig of Spring, TX

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Fronckiewicz’ AICPA membership was suspended for two years, effective October 18, 2016, in connection with the disciplinary action taken by the Securities and Exchange Commission (SEC). Specifically, through an “Offer of Settlement”, and without admitting or denying the charges, the SEC denied Mr. Fronckiewicz the privilege of appearing or practicing before the Commission as an accountant with the right to apply for reinstatement after two years from the effective date of the SEC’s Order. This decision was based on the SEC’s findings that Mr. Fronckiewicz, coordinating engagement partner, engaged in improper professional conduct during the 2007, 2008, and 2009 audits of a public company and during the 2010 quarterly reviews by failing to perform audit procedures required by PCAOB standards. In addition, during 2010 quarterly reviews, failing to perform additional inquiries or perform other appropriate procedures to ascertain why the company was experiencing a huge unexplained income tax receivable that grew to over $400 million by year-end 2010.